Turkey’s economic crisis, ongoing since 2018, took a sharp and dark new turn in October 2020. The Turkish lira fell to a historic low as COVID-19 cases rose. These trends are hardly unique to Turkey, as many countries face tough choices to balance propping up their economies and limiting the spread of the virus. Middle-income countries like Turkey are especially vulnerable, given the dearth of international assistance for all but the most vulnerable nations.
Read MoreWhile Turkey has struggled economically over the past two years, its burgeoning tech space has been a rare bright spot. In developing and attracting investment to homegrown start-ups, Turkey’s demographic fundamentals play to its strengths. Moreover, greater attention from both Ankara and outside investors to the challenges facing tech in Turkey might expand the opportunities for growth and offer a template to resolve Turkey’s broader economic challenges.
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